Swedish ASIC miner company kncminer.com

[cryptodaknight]

If you haven't seen this yet, time we organize and get a proper lawsuit going.

https://twitter.com/KNCRefund

http://www.kncrefund.com/index.html

Not only refunds, but lost BTC we could have made that they made instead from out seed money. These guys need to be dismantled and then assets divided among those having their funds taken and used toward datacenter on our dime.

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[l3sny]

goood! wish you all the best!
I just want to get my bonus miner and cut the ties with the scumbags.

[Searing]

anyone interested in purchasing a first batch titan ?  I am willing to take a loss.  Make me an offer.  

the in hand Titan's are going (just now link below of sold units) for 4.75k on Ebay ..in hand new in box...just so you get an idea on how much pain you will take

and EBAY is high in price imho too boot

link to completed Titan units sold 1st batch in hand etc

http://www.ebay.com/sch/i.html?_from=R40|R40&_nkw=knc+titan&_in_kw=1&_ex_kw=&_sacat=0&LH_Sold=1&_udlo=&_udhi=&_samilow=&_samihi=&_sadis=15&_stpos=&_sargn=-1%26saslc%3D1&_salic=1&_sanli=1&_sop=12&_dmd=1&_ipg=50&LH_Complete=1

me well for that price I may as well play with the damn thing....I was forced thru bank error to be a 'legal miner' in USA (yeah it sucks essentially bank said i paid 90k to knc
rather then 10k and had to show myself as bona fide business to get it fixed.prove the bank screwed up....ie tax form under 2013 irs alt currency business etc)

anyway I can take 25% off in equip (they say it is a computer) for 5 years thus get that back at least...so maybe this will work out well for me this year as well
(was supposed to pay 4k last year in taxes but had biz and equip deductions paid zip probably same this year zip)

anyway on a side note with btc tanking and if you are in too much into equip like me you MAY want to talk to CPA about this .you may want to go legal

so anyway with that in mind...may as well get the 25% back off the full price in tax credits as sell the boat anchor on $10,131.80 that comes out to $2532.95

so it hardly pays to sell at 4.75k at this point in the 'shake down' in my purchase from KNC

anyway my boat...I'm stuck as to others maybe an ebay price of 4.75k makes sense you probably would be able to BUY more BTC then the Titan will ever make imho

so it goes.. bitcoin is a cruel mistress learning curve wise don't ya know

[zakalwe]

Guys stay away from these clowns. My titans order is in shipping modsince 20 days and all they can answer is "our system doesn't allow us to see the queue". This is becoming a real fraud. As BFL

And frankly crypto world needs to get rid of all this scammers.

[zakalwe]

Yeah, their business ethics is essentially BFL but with a little more production competence.

Hello cpt. Obvious:)


You're having fun Sam and company? I'm glad........... Keep on laughing.....

[dekodoge]

Guys stay away from these clowns. My titans order is in shipping modsince 20 days and all they can answer is "our system doesn't allow us to see the queue". This is becoming a real fraud. As BFL

And frankly crypto world needs to get rid of all this scammers.

what a fucking joke. you are all being played.


raid their office and hold them hostage till you get your money back.

[s1gs3gv]

"We don't know when we will process your Neptune refund"

"We don't know when your bonus Neptune will ship"

"We don't know how to fix the Titan reliability problem"

"We don't know when your Titan will ship"

"We don't know how to fix the Titan firmware"

"We don't know, I am afraid"

KNC, the Know Nothing Company


     "As this is KNC, we reserve the right to over deliver tell you nothing"

[jelin1984]

titan is shipping very slowwwwwwwwwwwwwwwwwwwwwwwwwwww

[bitgeek]

titan is shipping very slowwwwwwwwwwwwwwwwwwwwwwwwwwww

They are giving themselves time to mine. Every day counts

[Micky25]

titan is shipping very slowwwwwwwwwwwwwwwwwwwwwwwwwwww

They are giving themselves time to mine. Every day counts

I don't think they do that. They just don't have working products that can be shipped.

[s1gs3gv]

titan is shipping very slowwwwwwwwwwwwwwwwwwwwwwwwwwww

They are giving themselves time to mine. Every day counts

I don't think they do that. They just don't have working products that can be shipped.

Looking at LTC difficulty, its pretty clear they aren't shipping many, and the ones they do don't work well and aren't reliable.
Some attribute the slow shipping back to KNC's claims of 'yield problems' but others think this is an excuse and that they have halted Titan shipments until they can get the machines to work right, in order to avoid large RMA expenses.

Its pretty clear now that KNC failed to meet their promise to ship a fully functional and reliable Titan to batch 1 customers by end of Q3.

[SgtMoth]

http://coinfire.cf/2014/10/13/knc-class-action-investigation-underway/


Im not sure if this has been posted yet...

[cryptodaknight]

http://coinfire.cf/2014/10/13/knc-class-action-investigation-underway/


Im not sure if this has been posted yet...

So what does this mean for those not shipped a titan on time, and asking for a refund? Is this long dragged out process? How does one get in on this? They have refused me a refund and asked more than once.

KNC needs to be dismantled and assets sold off to those that were screwed over.

[mwizard]

http://coinfire.cf/2014/10/13/knc-class-action-investigation-underway/


Im not sure if this has been posted yet...

I doubt it is possible to effectively take a class action in California against a Swedish company unless the defendants has a legal presence in California or the US. 

I would have thought KNC would only worry about actions brought under Swedish law.

More information is needed on whether this is just a publicity stunt.

[DevonMiner]

More information is needed on whether this is just a publicity stunt.

It is actually old news ... read back in the thread ... traction will hopefully gain.

[DGulari]

I doubt it is possible to effectively take a class action in California against a Swedish company unless the defendants has a legal presence in California or the US.  

I would have thought KNC would only worry about actions brought under Swedish law.

This is completely absurd.  Many thousands of European companies have been sued in the Federal Courts of California.  Happens all the time.  If you sell products to Americans, you 'avail yourself' of the laws and courts jurisdiction.  US consumer laws protect US citizens.  You can sell defective dangerous products to Americans and avoid consumer protection laws.  Otherwise, dodgy companies would all just go set up operations is some shit bag country and sell dangerous products competing with companies who sell well designed product in conformance with the laws.  

Why oh why do people believe that Swedish companies are allowed to sell dangerous products to American citizens without having to answer to laws in the US.  That is very funny.

[cryptodaknight]

Potential Class Action Lawsuit Against KnCMiner


http://cryptomining-blog.com/3594-potential-class-action-lawsuit-against-kncminer/

[retro72]

Potential Class Action Lawsuit Against KnCMiner


http://cryptomining-blog.com/3594-potential-class-action-lawsuit-against-kncminer/

Check your Home Insurance policy. If you have LEI (Legal Expenses Insurance) you may be covered for this.

Home insurance LEI typically covers legal proceedings relating to the insured’s home, employment, death or personal injury, as well as cases where you have entered into a contract for the sale and supply of goods and services.

Definitely worth a shot.

[Searing]

titan is shipping very slowwwwwwwwwwwwwwwwwwwwwwwwwwww

They are giving themselves time to mine. Every day counts

I don't think they do that. They just don't have working products that can be shipped.

actually all they have to do is ship the Titans in 2 weeks say..except for some very early Titan's most only have 90
day warranty...so 100 days goes by...and if the firmware don't work or rma stuff is a joke they can simply walk

i also think this is the same for 3rd batch neptunes..(and prob the free neptunes) no refunds and 90 day warrenty

ie they have no reason to be honorable they are just running out the clock


on a side note KNC has made by some estimates 200 million usd in last year....they will simply run this out in court
for years to keep their name clean for the arctic cloud investment scam

but hey better then nothing I'll do all this stuff....better the lawyers getting 3/4 of the settlement then KNC keeping any imho

but as for us getting any $$$ I would not hold your breath



 

[kingscrown]

so any way to get refund for not sent titans or not really?